Crypto basics | Centralized and decentralized exchanges
What: Decentralized exchanges (DEXs) use smart contracts to execute swaps. Users sign with their own wallets, and their assets remain in their wallets until the trade is completed.
Why: The most fundamental difference is who holds the assets: on a CEX, the platform holds them; on a DEX, you control your own private keys.
Reminder: Slippage is usually high in obscure DEX pools, so check the estimated amount you’ll receive before swapping.
$BNB 700.21 (-0.067%)
Feel free to browse, but don’t buy based on this—make your own decisions.
What: Decentralized exchanges (DEXs) use smart contracts to execute swaps. Users sign with their own wallets, and their assets remain in their wallets until the trade is completed.
Why: The most fundamental difference is who holds the assets: on a CEX, the platform holds them; on a DEX, you control your own private keys.
Reminder: Slippage is usually high in obscure DEX pools, so check the estimated amount you’ll receive before swapping.
$BNB 700.21 (-0.067%)
Feel free to browse, but don’t buy based on this—make your own decisions.